Ram Ratna Wires Limited
Climate Impact & Sustainability Data (2023-04 to 2024-03)
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
ESG Focus Areas
- Energy Conservation
- Water Conservation
- Waste Reduction and Recycling
- Employee Well-being
- Corporate Social Responsibility
Environmental Achievements
- Reduced electrical power utilization per Kg of production by ~12%
- Installed solar power plants totaling 850 kWp
- Implemented rainwater harvesting and groundwater recharge initiatives
- Achieved 90% collection and reuse of plastic spools
- Implemented reuse and recycling policies for thermocol boxes
Social Achievements
- Implemented “RRWL Employee Stock Option Plan 2023”
- Maintained healthy industrial relations
- Undertook various CSR programs
Governance Achievements
- Adopted a comprehensive Nomination and Remuneration Policy
- Established a Whistle Blower Policy
- Complied with Corporate Governance requirements stipulated under the Listing Regulations
Climate Goals & Targets
Long-term Goals:
- Expand market presence domestically and internationally
Medium-term Goals:
- Strengthen R&D capabilities to develop next-generation products
Short-term Goals:
- Commencement of new manufacturing facility in Bhiwadi, Rajasthan in FY 2024-25
Environmental Challenges
- Global economic uncertainty, including energy crises, geopolitical tensions, and supply chain disruptions
- Currency fluctuations
- Inflationary pressures
- Intense competition in the winding wires and strips segment
- Price volatility in raw materials
Mitigation Strategies
- Strategic sourcing and operational optimization
- Effective hedging strategies
- Focus on digitalization and smart manufacturing
- Commitment to environmental management
- Market diversification
Supply Chain Management
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Indian Accounting Standards (Ind AS)
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016
Third-party Assurance: Bhagwagar Dalal & Doshi, Chartered Accountants
UN Sustainable Development Goals
- Not disclosed
Sustainable Products & Innovation
- Corona-resistant wires
- Litz wires with additional covering
Awards & Recognition
- Not disclosed